VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

L3Harris Technologies, Inc. vs Morningstar, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

L3Harris Technologies, Inc.

LHX · NYSE

Market cap (USD)$62.9B
Gross margin (TTM)23.1%
Operating margin (TTM)10.9%
Net margin (TTM)8.1%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2026-01-02
Moat score
72/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into L3Harris Technologies, Inc.'s moat claims, evidence, and risks.

View LHX analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: L3Harris Technologies, Inc. leads (72 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: L3Harris Technologies, Inc. has 4 segments (31.9% in Space & Airborne Systems); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: L3Harris Technologies, Inc. has 8 moat types across 3 domains; Morningstar, Inc. has 6 across 3.

Primary market context

L3Harris Technologies, Inc.

Space & Airborne Systems

Market

Defense & intelligence space and airborne mission systems (payloads, sensors, avionics, mission networks)

Geography

Global (U.S.-centric demand)

Customer

Government defense/intelligence agencies, prime contractors, and allied governments

Role

Prime contractor / subsystem integrator

Revenue share

31.9%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

L3Harris Technologies, Inc.
Morningstar, Inc.
Ticker / Exchange
LHX - NYSE
MORN - NASDAQ
Market cap (USD)
$62.9B
n/a
Gross margin (TTM)
23.1%
n/a
Operating margin (TTM)
10.9%
n/a
Net margin (TTM)
8.1%
n/a
Sector
Industrials
Financials
Industry
Aerospace & Defense
n/a
HQ country
US
US
Primary segment
Space & Airborne Systems
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
67 / 100
Moat domains
Legal, Demand, Supply
Demand, Network, Legal
Last update
2026-01-02
2026-01-10

Moat coverage

Shared moat types

No overlap yet.

L3Harris Technologies, Inc. strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageSwitching Costs GeneralCapex Knowhow ScaleProcurement InertiaCapacity MoatKeystone Component

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

L3Harris Technologies, Inc. segments

Full profile >

Space & Airborne Systems

Oligopoly

31.9%

Integrated Mission Systems

Oligopoly

31.8%

Communication Systems

Oligopoly

25.4%

Aerojet Rocketdyne

Duopoly

10.9%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.